Worldline, a European payment and transactional services market leader and Gemalto, a leading company in digital security, are working together to enable seamless onboarding of banks and card issuers to mobile payment wallets provided by device manufacturers. With this agreement, the two industry leaders will be able to offer banks an end-to-end ready-to-use and customizable service. As a result, issuers will benefit from quick time-to-market, flexibility and control of their customers' data.
NXP Semiconductors N.V. and Xiaomi announced a new milestone in their journey for mobile payments in public transit systems. As a key part of this collaboration, Xiaomi introduced its next-generation flagship Mi 5 equipped with NXP’s Secure Element and Near Field Communication (NFC) solution, which will help accelerate the adoption of mobile payments in China. The newly launched Mi5 models will allow customers to use tap-to-pay for travelling, seamlessly enter and exit public transport systems without using a ticket or travel card, and enable simple balance checking all while ensuring payment security. The new payment function is already available in Shanghai and Shenzhen, and NXP and Xiaomi will join efforts to promote roll out of the new application in more cities.
Morpho (Safran) announced it will work with Visa to showcase new ways to pay using technologies such as biometric recognition. These technologies will be applied to existing means of payment such as credit or debit cards, mobile, ATMs and Points of Sale (POS) terminals, to enhance transaction security for financial institutions and customer convenience. As the mobile banking and payment market expands, so does the need for highly secure solutions such as biometrics, tokenization, digital signature and other solutions to protect consumers against identity theft and fraud. Morpho’s collaboration with Visa intends to explore innovative security solutions in response to the strong growth in this market.
With acceptance of mobile and other new forms of payments expected to double in the next two years, a new global study shows a critical need for organizations to improve their payment data security practices. This is according to a recent survey of more than 3,700 IT security practitioners from more than a dozen major industry sectors independently conducted by the Ponemon Institute on behalf of Gemalto.
According to the independent study on Payment Data Security, over half (54%) of those surveyed said their company had a security or data breach involving payment data, four times in past two years in average. This is not surprising given the security investments, practices and procedures highlighted by the surveyed respondents:
- 55% said they did not know where all their payment data is stored or located.
- Ownership for payment data security is not centralized with 28% of respondents saying responsibility is with the CIO, 26% saying it is with the business unit, 19% with the compliance department, 15% with the CISO, and 14% with other departments.
- 54% said that payment data security is not a top five security priority for their company with only one third (31%) feeling their company allocates enough resources to protecting payment data.
- 59% said their company permits third party access to payment data and of these only 34% utilize multi-factor authentication to secure access.
- Less than half of respondents (44%) said their companies use end-to-end encryption to protect payment data from the point of sale to when it is stored and/or sent to the financial institution.
- 74% said their companies are either not PCI DSS compliant or are only partially compliant.
Gemalto is the first mobile payment vendor to receive full MasterCard approval for a complete Cloud-Based Payment (CBP) solution. This recent MasterCard certification encompasses Gemalto's CBP server platforms as well as the payment software running on cardholders' mobile phones. The solution is available as part of the company's secure and proven Allynis Trusted Services Hub (TSH), a full turnkey business service for financial institutions.
Gemalto announced that its SafeNet Luna EFT (Electronic Funds Transfer) Payment HSM (Hardware Security Module) supports new standards from the major credit card networks for secure implementations of contactless payments via mobile phones. The SafeNet Luna EFT device is able to deliver on highly secure cloud tokenization requirements in order to protect the processing of payment transactions and digitization of credit card credentials.
An den Kassen des Basketballstadions des FC Bayern München (FCBB) kann ab sofort kontaktlos mit girogo bezahlt werden. Nach Informationen des Deutschen Sparkassen- und Giroverbands kann an allen Imbiss- und Getränkeständen und am Ticketschalter mit girogo bezahlt werden. Für die Dauerkarten-Besitzer ist die „Audi Dome Card“ ab der kommenden Saison Mitgliedsausweis und bargeldloses Zahlungsmittel in einem. Gelegenheitsbesucher können eine kontoungebundene girogo-Karte gegen Pfand erwerben. Nach dem Spiel können die Besucher mit der Karte auch außerhalb des Audi Domes kontaktlos bezahlen. Bundesweit gibt es aktuell fast 14.000 girogo-Akzeptanzstellen.